
The US NFP report will come out on January 8 at 15:30 MT time.
In November, American import prices went down by the most for more than three years due to the fact that the cost of petroleum products decreased and a strong evergreen buck suppressed prices of other goods, indicating descending imported inflation in the near term.
On Thursday, the Labor Department uncovered that import prices lost 1.6% the previous month. It happens to be the biggest tumble since August 2015, following an unrevised 0.5% leap in October.
Financial analysts had hoped import prices would inch down by 0.9% in November.
In November, prices for imported fuels as well as lubricants went down by 11% having soared by 3.2% in October. Besides this, prices for imported petroleum inched down by 12.1%, which appears to be the greatest sink since January 2016, having leapt by 2.7% in October.
Since the beginning of October, crude prices have gone down by a third against the backdrop of fears about oversupply as well as a decelerating global economy.
In November, food prices went down by 2.2%, reversing October's 2.2% leap. Moreover, without food and fuels, import prices dived by 0.2% in November after being intact in October. The so-called core import prices surged by 0.4% for the 12 months through November.
The dismal core import price readings actually reflect the firm greenback that has surged nearly 8% in 2018 versus the currencies of America’s key trade partners.
According to this report, in November, export prices went down by 0.9%, which is the biggest slump since January 2016, having surged by 0.5% in October. Apparently, a 1.8% rebound in prices of agricultural exports was partly compensated by a 1% sink in prices of nonagricultural products.
In November, on a year-on-year basis export prices rallied by 1.8% having ascended by 3.1% in October.
The US NFP report will come out on January 8 at 15:30 MT time.
FOMC Meeting Minutes will be released on January 6 at 21:00 MT time.
USD: all attention to Manufacturing PMI Instruments to trade: EUR/USD, USD/JPY, USD/CHF US ISM Manufacturing PMI will be out on January 4 at 17:00 MT time…
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
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